Looking for entry point - always on reversal

newspreadbetter

Member
71 0
Need a bit of help please guys, I spread bet a couple of Indices and FX pairs, but cant get away from looking for the perfect reversal as my entry point, is this normal?

Why cant I seem to enter on a uptrend or downtrend, instead I seem to sit and watch and wait for it to run out of steam, then try to get in on the reversal?

What am i doing wrong (if at all, I am)
 

tomorton

Legendary member
7,262 970
For one thing you are trying to trade reversals. This is probably the way that most newish traders think they can beat the market, as simply riding the trend would not be beating the market in itself, merely matching its pace. The antithesis of trading is of course buy-and-hold investing and the motivation to get away from that and exceed its performance is why we're all traders not investors.

So the rationale behind the decision to trade reversals is understandable. However, I am sure that trading reversals (and day-trading) are the main reasons why most new traders fail.
 

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